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South African cannabis company details expansion plans following R300 million cash injection, including Europe and US

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JSE-Listed investment holding company Labat Africa says it is diversifying its healthcare offerings through large-scale acquisitions and retail expansion.

The company has acquired a 100% share in Miami-owned CBD lifestyle brand Echo Life which comprises a diverse FMCG product portfolio and has obtained exclusive rights to distribute American pre-rolled hemp smokable Ace & Axle as well as its other products.

Echo Life and Ace & Axle will form part of Labat’s retail portfolio that already includes Cannafrica, a medicinal and luxury CBD lifestyle brand with three outlets in South Africa, an online store and three additional stores opening in the coming months. In addition, e-commerce exists for Cannafrica, Echo Life and Ace & Axle, respectively, it said.

Labat said it is going into the market with retail products that are compliant with health regulators.

 

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Did we not agree to invest in medial cannabis but now they are focusing on recreational ?

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